NIM06868 - Payments by way of securities which can be disregarded

Part 1X, Schedule 3, SSCR 2001

The following are disregarded from earnings under the above provision -

• a payment by way of a right to acquire securities
• a payment by way of allocation of shares in priority to members of the public in respect of which no liability to income tax arises by virtue of s542 ITEPA 2003
• a payment that is deducted from the earnings of the employment under a partnership share agreement
• a payment by way of an award of shares under a share incentive plan within the meaning of Schedule 2 ITEPA 2003
• a payment by way of the acquisition of securities, interests in securities or securities options in connection with employed earner's employment if, or to the extent that, what is acquired is not a readily convertible asset ( see NIM06869)
• a payment by way of the acquisition of employment-related restricted securities, or restricted interest in securities, if no charge to tax arises under s425 ITEPA 2003 otherwise than by virtue of subsection (2) of that section.